After years of excuses it's time for Bill Kenwright to let go of Everton FC

14/08/2015  45 Comments  [Jump to last]
In an impassioned piece, SOS1878 editor Joe Jennings writes that, "The time has come for Kenwright to accept that his performance as chairman has been unacceptable," as a growing faction of the Everton fanbase grows impatient.

Joe lists a number of the current Board's unfulfilled promises and advocates the route taken by Liverpool to expedite the promised sale of the club:

The board should seek to appoint an autonomous group of professionals that will undertake the identification and selection of potential buyers of the club who will oversee the sale to the potential owner who can best demonstrate the resources, ability and a genuine desire to take the club forward on both a commercial and football level.

» Read the full article at The Mirror


Reader Comments (45)

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Christy Ring
1 Posted 14/08/2015 at 16:03:31
A great article by Joe Jennings in the Mirror: 'No more excuses, why Kenwright must go' It's worth a read, he's run the club into the ground.
David Sheen
2 Posted 14/08/2015 at 16:05:44
Great article. But I just can't see a vast amount of Evertonians trying to get Bill out. What is annoying are those that say "Be careful what you wish for".

Well think about this. We won 2 league titles , 2 FA Cups (5 FA Cup finals), 5 Charity Shields, and UEFA Cup Winners Cup. In the 16 seasons prior to Bill Kenwright takeover.

Since 1999 we haven't won anything and the board have invested absolutely NOTHING into buying players other than re-investing what we sold.

Steve Davies
3 Posted 14/08/2015 at 16:08:33
Just read the piece in the Mirror. It was excellent. Sums it all up really. I suggest that EFC fans read it. When you look at the facts of the matter Kenwright's tenure has been very poor.

Kenwright must go and take Bobby the bullshitter with him. We need a professional board in place with a sound business model, if not we will end up like Sheffield Wednesday and Leeds United!!!!

James Martin
4 Posted 14/08/2015 at 16:14:26
Everything he's said is true but the question is what is the answer? If the board truly want to sell (big if) then they would have looked into the route of an autonomous sales person. If they don't want to sell (likely given that the longer they hang on the bigger the payday will be if they do sell it) then they'll have no interest in appointing anyone. As for Broughton it's far easier selling something on the brink of administration for half its real value than it is selling a money pit at its correct one. Something needs to happen but I can't see a quick easy solution. No harm in highlighting the truths of the True Blue era though to the masses.
Patrick Murphy
5 Posted 14/08/2015 at 16:33:36
Just one response so far on the Mirror site and probably what many Evertonians believe " A small, but noisy, minority regarded with indifference or contempt by the majority of Evertonians."

I personally don't subscribe to that respondent's claims as I think there are a great many disgruntled Blues around at the moment, albeit for differing reasons, but many more are beginning to question how Everton FC is and has been run. They also want to know why we suddenly seem incapable of competing with the likes of Southampton and Swansea -- never mind Liverpool and Tottenham -- on or off the pitch.


Andrew Clare
6 Posted 14/08/2015 at 16:36:02
I have just read the Mirror piece and I must say that I am pleased our situation is being highlighted in the national press at last.

Our club has been totally asset stripped by Kenwright and his pals with absolutely no investment.

A disgrace.

Shane Corcoran
7 Posted 14/08/2015 at 16:44:47
Patrick, the lad that replied felt it relevant to tell us how many followers the club has on twitter compared to this new group as if it was one or the other that people would follow.

As an aside of sorts, what's the big announcement due out at 9 p.m by the Everton Board Out likely to be?

Link

Tom R Owen
8 Posted 14/08/2015 at 17:03:57
Delighted to see this in the public domain
Hopefully the beginning of the end.
Helen Mallon
9 Posted 14/08/2015 at 17:10:58
I have just read on Twitter there is an announcement at 21.00 regarding the club. Has anyone got any idea if it's true?
Shane Corcoran
10 Posted 14/08/2015 at 17:18:41
Helen, it's Everton Board OUT group that are making it I think.
Link
Tony Waring
11 Posted 14/08/2015 at 17:23:51
Helen it's just Bill K announcing that the 㿅 he's just won on the premium bonds will go straight into the transfer fund.
Eric Myles
12 Posted 14/08/2015 at 17:32:08
This is the sort of article that should have appeared in the Echo.

No doubt they won't even acknowledge it.

Steve Jenkins
13 Posted 14/08/2015 at 18:00:40
A Pulitizer has to be on the card for the first Echo journalist to break this story, what a scoop that would be!

Oh hang on... talk sport and even a London red top are already all over this, yet the paper that is supposed to service Everton ins. .. silence.


Andrew Clare
14 Posted 14/08/2015 at 18:25:42
Get rid of the board and the whole set up. Eleven years with a mediocre manager and now another no-hoper. Talk about wrecking a great club and lower the expectations of the fans!

Until they go we are in great danger of being relegated. Tomorrow against Southampton will be another disappointment without doubt.

Colin Glassar
15 Posted 14/08/2015 at 18:30:39
Great article. Slowly but surely the real charlatan at the club is being exposed in the national media. PR savvy Bill won't like this one bit, as he's always had the backing of the media, this might just push him out of the door. Fingers crossed.
Dave Harper
17 Posted 14/08/2015 at 21:12:05
I'll probably get cried down for these musings, but I have been thinking about pitfalls that would be the sale of the club from a purchaser's point of view, and even if Messrs Kenwright, Earl and Woods did decide they wanted to sell, this accounts for just under 70% of the shares. Why would anyone come in, acquire 70% of a company then be the only party to invest in it and give the remaining 30% of shareholders a free ride? Not going to happen... unless all further investment was by way of an interest-bearing loan which gives them a return, but reduces annual profits and therefore the amount available to spend.

The situation would be improved if Lord Grantchester, Mr Abercromby and the Estate of Sir Philip Carter agreed to sell at the same time, thus accounting for about 85 percent of the shares.

We then have the securitisation of season ticket/matchday income. What would be the penalty for early repayment?

Then we come to the funding from VIBRAC. I don't know how relevant this is, but when Reading were sold a couple of years back, VIBRAC had rather a large say in the terms and conditions of the sale, as Reading had taken a similar advance to the one we have, the only difference being that, rather than TV rights, it was secured on their parachute payments.

I'm probably looking at this far too negatively and simplistically, but is it a hard-headed investment for a businessman?

Michael Kenrick
18 Posted 14/08/2015 at 22:09:11
Perfectly good musings, Dave (#12). You raise an interesting possibility that the minor shareholdings actually represent an impediment to getting in new investors or new buyers. That's not something I recall coming up before.

I don't believe the issue would be lack of control, so the hard-headed investment angle may be what prospective buyers/investoors have run into; Bill has been effective at controlling the destiny of the club with barely a quarter of the shares to his name.

And Everton being privately held rather than publicly traded, I think this puts different requirements (if any) on what is a controlling percentage and at what percentage point a new owner would be required to make an offer for all of the privately held shares.

Perhaps someone who knows the details for a private non-listed company takeover/buyout can chime in here...

Dave Harper
19 Posted 14/08/2015 at 22:34:15
Thanks Mike. Assuming that Everton's Articles of Association are the same as most new private companies, in a private Limited Company, most resolutions are "ordinary" resolutions and need a simple majority to pass them, ie, over 50%. "Special" resolutions require 75% to be passed. It should also be borne in mind that 10% of shareholders can call an Extraordinary General Meeting as long as they follow the correct procedure.

So ideally an investor would want in excess of 90% so the dissenting voices are stopped. This may lead to other problems, but that would be for the court to sort out, or the minority shareholders to sell up, I suppose.

Steve Pugh
20 Posted 14/08/2015 at 22:38:18
Just a thought, if the plane is flying around 12.15 - 12.45 tomorrow what odds on it being mentioned on Football Focus?
Mark Boulle
21 Posted 14/08/2015 at 22:41:25
Off the top of my head Michael, and my knowledge may be a bit out of date as I've not been a practicing company lawyer for a couple of years now, the thresholds at which a controlling shareholder has to submit a bid for the remaining shares in a company only apply to those companies subject to the takeover code i.e. publicly listed ones.

So that wouldn't apply for Everton.

Again, things might have changed, but as far as I know a controlling percentage in a private company would commonly be75% + 1 share - minority shareholders holding 25% can block certain resolutions of the majority shareholder(s).

Assuming my knowledge is still current, Dave is right - at least one of the minority shareholders would have to be persuaded to sell to any new owner as well to take the new owner over that controlling threshold.

Sadly, writing this doesn't make it any more likely to happen!

I'm on holiday in Spain at the moment. Normally, if I were away and we were on tv, I'd do my best to find a bar to watch it. Right now though I daresay I'm not alone among Blues in deliberately organising to be somewhere else at 12.45 BST tomorrow. Going walking in the mountains, there will be no signal and with the way I feel about things at the moment with EFC, sadly, that's exactly how I want it.

Dave Abrahams
22 Posted 14/08/2015 at 22:45:21
Steve (14) I know one thing, Martin Mason won't be flying the plane !!!.
Kevin Gillen
23 Posted 14/08/2015 at 23:00:10
I've said it once before in another thread but I'll say it again - has anyone heard the club has been sold? I have a source close to Blue Bill who tells me it has.
Kunal Desai
24 Posted 14/08/2015 at 23:46:09
Kevin- Can't see it happening end of especially when next summer the money received by clubs from Sky will be the biggest.
Gavin Johnson
25 Posted 14/08/2015 at 23:54:20
Have you got any more details Kevin?

It's crossed my mind with players signing new contracts and how we keep reiterating Stones is not for sale. Plus BK's failing health. But then again, we've had so many false dawns with talk of the club being sold.

Nick Page
26 Posted 14/08/2015 at 23:59:15
Have you seen this shit!!! Have a look at the Power8 news!!!! Good God
Brent Stephens
27 Posted 15/08/2015 at 00:13:41
Jeez, here we go again - "I have a source..." blaf friggin blah.
Ian Smitham
28 Posted 15/08/2015 at 00:15:05
I posted here albeit a different thread, read the trail on my stuff if you want, when I noticed BK left a game last season after only 5 minutes and then missed the exit few games, which is unusual to say the least .

I tried to promote a discussion as to why he left.

Have noticed various comments on here on various threads regards his health, but no one seems to have the ability to name if he is ill, rather than speculate, and what the illness is. My view is that rather than people hide behind comments like " bearing in
mind " his health,they either put up or don't comment. We need facts not speculation.

Mark Riding
29 Posted 15/08/2015 at 00:32:05
Is it a bird ?

No, it's a plane...

http://www.mirror.co.uk/sport/football/news/Everton-fan-groups-fly-banner-6254387

Finn Taylor
30 Posted 15/08/2015 at 00:35:04
Bill K is very ill. It's a serious illness. He can't travel to home games cause of it.

He left the Southampton game after 10 minutes and has barely been able to get back to Goodison.

I have my own criticisms of his tenure, but the current flare up is coming at the worst time.

I fear fans groups will be made to look like fools. However, with greater transparency, that wouldn't happen.

Chris Wilson
31 Posted 15/08/2015 at 00:38:42
Kevin 18, if we have been sold; it would be one of the most clandestine acts ever. I would think that there would be a couple of leaks about a sale considering how there have been some very vocal protests about Kenwright, the Board, and Everton's lack of direction seeping into national media outlets. They always seem to talk about us when we're down. What have you, possibly, heard through third, fourth, or fifth-hand sources?
Chris Wilson
33 Posted 15/08/2015 at 00:48:09
If he truly is as ill as some are saying, then maybe Kenwright is quietly selling his shares to someone within, and that's put a freeze on spending cash at this point in time? In anticipation of him stepping aside? I really have no idea how the business side of EPL ownership works, and I hate to speculate if Bill's health is really poor - I've just heard his health rumors from folks on this site.
Anthony Dwyer
34 Posted 15/08/2015 at 02:13:37
I think now more than ever Kenwright has to go. Football has evolved and he and his consortium full of tight arses need replacing.

We could do with a billionaire but any decent business man would be able to fund our manager better than this board.
Kristian Boyce
35 Posted 15/08/2015 at 02:18:38
It's been interesting reading comments on other posts about this from other sites and on Facebook. The 'careful for what you wish for' brigade out in full force and in absolute condemnation of the projected events.

The usual response has been 'kopite of toon army' behaviour, along with the customary follow up of 'Everton aren't we'. In the end of the day, both the campaigns from those teams worked.

A new regime for the RS and Ashley seemingly opening up his cheque book. It's been honestly been staggering to see how many fans are completely happy on how things are currently.
Kevin Gillen
36 Posted 15/08/2015 at 09:01:57
I have heard from a football agent, close to Bill Kenwright who contacted me to tell me, as an Evertonian, that the club has been sold. I wonder if there is anyone on ToffeeWeb who has the ear of Woods or Kenwright who can confirm this.
Ray Roche
37 Posted 15/08/2015 at 09:06:50
Kristian, let's be fair, the reason Hicks and Gillette left the RS had nothing to do with the fans, and everything to do with the banks.
Colin Glassar
38 Posted 15/08/2015 at 09:19:29
Funny though isn't it Kevin G that whenever there are stirrings of discontent these rumours of ground moves, new investment, takeovers, new players coming in etc...start popping up? Coincidence or what?
Kevin Gillen
39 Posted 15/08/2015 at 09:30:38
To Colin at 34, the information comes from a first hand source, not second or third hand. The information presented to me was not presented as rumour but as fact but I have no way of confirming it but surely someone on ToffeeWeb has. I am expecting a statement from the club any time soon.
Eric Myles
40 Posted 15/08/2015 at 09:35:14
Colin #34, could one of your etc. be illness?

And how odd that last time a large protest was planned there was talk of an imminent takeover that resulted in it being cancelled in case it scared off interested parties.

Colin Glassar
41 Posted 15/08/2015 at 09:40:16
I hope you're right Kevin but so many false dawns....... Eric, I wouldn't go that far but it's funny they always seem to conjure up something to distract us. It's usually before ST sales begin.
Danny James
42 Posted 15/08/2015 at 10:15:46
If the club had been sold surely the other shareholders would be informed. Nearly a third of the club is owned by individuals other than Kenwright, earl, Woods, Grantchester etc

Though not a fan how the club is run at the moment you would have to question why anyone would want to buy us unless they are either a Billionaire Evertonian or a Multi billionaire who just wants to spunk endless cash for purpose of their own vanity. This is because to be able to consistently challenge at the top would require more investment than they would ever get returned to them from a future sale

What would a business man worth say 1 or 2 billion do if they bought us? Presuming they bought the club with their own cash and not a debt would they really want to invest more money or would they want to cut running cost i.e wages to make more profit. would they literally be aiming for 17th each season just to guarantee TV money and profits each year so that they see a return on their investment .

It wouldn't surprise me if new owner came in and sold Stones, Lukaku, McCarthy and Barkley, made a 1/4 of the money received available for replcements and then they would nearly have the purchase price paid back to them with the remainder of whats left

James Flynn
43 Posted 15/08/2015 at 19:07:05
Kevin (37) - If it's a first-hand source, what's the word on Kenright's health?
Kevin Gillen
44 Posted 16/08/2015 at 00:50:24
James at 41, I will try and find out more. The word is Everton sold to an investor after interest from several overseas parties.
Dave Lawley
45 Posted 16/08/2015 at 20:06:22
Hope you're onto something Kev, but even more I hope if Billyboy has sold the club, he hasn't failed his final test and sold us to a twat! I would like a US billionaire, self-made, proper stand-up guy.

With 'soccer' about to finally take off into the stratosphere in the States and a couple more seasons with 'the secretary of defence' in the nets, throw in a top marketing team, and throw Elstone out. Everton could really capitalise and be in the right place at the right time, maybe that was all a bit too specific huh?

Jay Harris
46 Posted 16/08/2015 at 20:15:30
To be fair to Kevin I heard the same from 2 different sources.

I have asked a friend who is very close to Keith Harris to see if there is any truth in these rumours.

I heard that Walmart (Asda) were in negotiations with the club and that Bill has a brain tumour.

Now I have to say right away I am not claiming these to be true just passing on what was claimed.

I am surprised though that nothing has been suggested in the media so it's either very hush-hush or untrue.

Michael Ward
47 Posted 16/08/2015 at 20:20:26
As an aside, one branch of the Walton family (Walmart) is married to the Arsenal owner Stan Kroenke. Maybe there was a bet while they were 10 points down at Xmas?

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